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Canadian Pacific Railway Sept. 10 announced plans to transfer management of its pension fund's North American equity and bond portfolios to external fund managers, who already manage the fund's foreign equities.


The portfolios currently are managed by wholly owned CPR subsidiary Canadian Pacific Investment Management Limited (CPIM), which managed the pension fund through Canadian Pacific Ltd. until the company's October 2001 breakup.


The transfer would enable the railroad to focus on its core rail business, according to a prepared statement.


CPIM will continue to manage the pension fund's real estate and mortgage investments.


CPR's pension plan holds about $5.3 billion in assets; the North American bonds and equities component has a $3.5 billion market value.